Nexstar Media Group (NASDAQ:NXST) Receives Outperform Rating from Barrington Research

Barrington Research reissued their outperform rating on shares of Nexstar Media Group (NASDAQ:NXST) in a report released on Tuesday morning, Benzinga reports. They currently have a $200.00 price objective on the stock.

Other analysts also recently issued reports about the stock. Loop Capital raised shares of Nexstar Media Group to a strong-buy rating in a research report on Friday, May 10th. Benchmark reaffirmed a buy rating and issued a $225.00 target price on shares of Nexstar Media Group in a research report on Thursday, June 20th. Finally, Wells Fargo & Company raised shares of Nexstar Media Group from an equal weight rating to an overweight rating and upped their target price for the stock from $190.00 to $221.00 in a research report on Monday, May 13th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $203.67.

Nexstar Media Group Stock Up 3.5 %

Shares of Nexstar Media Group stock opened at $183.36 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85. The company’s fifty day simple moving average is $163.70 and its two-hundred day simple moving average is $166.39. The company has a market cap of $6.04 billion, a P/E ratio of 15.51, a PEG ratio of 0.63 and a beta of 1.50. Nexstar Media Group has a 12-month low of $132.30 and a 12-month high of $187.32.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, May 9th. The company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.28 by $0.88. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.97 EPS. Research analysts anticipate that Nexstar Media Group will post 27.62 EPS for the current year.

Insider Buying and Selling

In other Nexstar Media Group news, EVP Blake Russell sold 433 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,497.19. Following the transaction, the executive vice president now owns 25,537 shares in the company, valued at approximately $4,275,659.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Nexstar Media Group news, EVP Blake Russell sold 433 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,497.19. Following the transaction, the executive vice president now owns 25,537 shares in the company, valued at approximately $4,275,659.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary Weitman sold 522 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $149.08, for a total transaction of $77,819.76. Following the transaction, the insider now owns 12,477 shares in the company, valued at approximately $1,860,071.16. The disclosure for this sale can be found here. Insiders have sold a total of 6,826 shares of company stock worth $1,080,597 in the last quarter. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Nexstar Media Group by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after purchasing an additional 127,783 shares during the last quarter. LSV Asset Management increased its position in shares of Nexstar Media Group by 5.5% during the 4th quarter. LSV Asset Management now owns 1,384,505 shares of the company’s stock valued at $217,021,000 after purchasing an additional 72,462 shares during the last quarter. Capital Research Global Investors purchased a new stake in shares of Nexstar Media Group during the 1st quarter valued at about $92,323,000. Copeland Capital Management LLC increased its holdings in Nexstar Media Group by 3.4% in the 4th quarter. Copeland Capital Management LLC now owns 519,567 shares of the company’s stock worth $81,442,000 after acquiring an additional 16,928 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Nexstar Media Group by 392.6% in the 4th quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock worth $70,593,000 after acquiring an additional 358,920 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.